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BTC Wires: A popular start-up for electric cars, Faraday Future has recently announced that it is now a part of the Mobility Open Blockchain Initiative (MOBI). Through this, it is attempting to use blockchain in the electric vehicles industry as well as allied transport fields.

This electric car start up has been in the spotlight for having ultramodern, futuristic designs for electric cars based in smart technology. Currently, the company is trying to understand the various ways to use blockchain for enhancing availability, security and cost-effectiveness in the transport industry.

MOBI works with several noteworthy and popular manufacturers such as BMW, Ford and Renault in order to make use of blockchain technology to enhance the quality of mobility. It is a non profit entity and Faraday Future is the latest addition to its group of illustrious collaborators, especially in the field of electric vehicle space.

Shyam Sundar, product head of the vehicle software platform at Faraday Future stated that the firm aims at bringing to the forefront an ecosystem for transport and mobility that would be clean, intuitive and interconnected. He further said that blockchain is a remarkable technology that’s coming up and it can be implemented wonderfully in the field of automotives to bring about affordability safety as well as a more universal accessibility. The company is eager to partner with the other key members who work towards taking this technology forward.

Faraday Future has not formally publicised the plans it has to implement the blockchain technology for its electric vehicles but it has revealed the various areas where it is working alongside MOBI to make use of the technology. The areas where it would be working in would include aspects like identification of vehicles, tracking of data and history, ensuring transparency and monitoring the supply chain. Supply chain regulation is also a major area of blockchain use in the food field. The firm is also emphasising on autonomous vehicles, especially with regard to payments and data markets related to them. General and more accessible car and ride booking/sharing is also in focus.

With this, we can expect blockchain to be used more widely in the transport field, and many believe soon autonomous technology will lead to replacing self-owned vehicles by ride sharing platforms such as Uber.

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